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May 21, 2012
05/12
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periresident, chicagoans look at you standing there with chicago, chicago, chicago on the wall behind you. there is an undeniable sense of pride. in your view, how did reality matchup to fantasy in welcoming the world leaders to chicago? and did the demonstrators in any way on the streets undermine your efforts, mayor emmanuel's efforts to project the image of chicago you would like to have seen? >> i have to tell you, i think chicago performed magnificently. those of us who were in the summit had a great experience. if you talked to leaders from around the world, they loved the city. michelle took the spouses down to see the center where wonderful stuff is being done with the early education and they saw the art institute and i was just talking to david cameron and he was sneaking off doing sightseeing before he heads home. i encouraged everybody to shop. i want to boost the hometown economy. we gave each leader a small model for them to remember as well as a football from soldier field. many of them did not know what to do with them. people had a wonderful time. i think the chicagoa
periresident, chicagoans look at you standing there with chicago, chicago, chicago on the wall behind you. there is an undeniable sense of pride. in your view, how did reality matchup to fantasy in welcoming the world leaders to chicago? and did the demonstrators in any way on the streets undermine your efforts, mayor emmanuel's efforts to project the image of chicago you would like to have seen? >> i have to tell you, i think chicago performed magnificently. those of us who were in the...
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May 21, 2012
05/12
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he performed wonderfully and the chicago police, chicago's finest did a great job. under some significant pressure and a lot of scrutiny. the only other thing i will say is thank you to everybody who endured the traffic situation. obviously chicago residents who had difficulties getting home or getting to work or what have you, what can i tell you? that's part of the price of being a world city. this was a great showcase and if it makes the folks feel better, despite being 15 minutes away from my house, nobody would let me go home. i was thinking i would sleep in my own bed tonight and said i would cause worse traffic, i ended up staying in a hotel. that contributes to the chicago economy. thank you, everybody. >> we have been listening to president obama making statements in chicago after the nato summit, talking about europe he said bankinglies must be recapitalized and fire walls must protect against contagion and everyone in the g 8 expressed desire to see greece remain in the euro zone and commented about republican nominee mitt romney saying that he is not run
he performed wonderfully and the chicago police, chicago's finest did a great job. under some significant pressure and a lot of scrutiny. the only other thing i will say is thank you to everybody who endured the traffic situation. obviously chicago residents who had difficulties getting home or getting to work or what have you, what can i tell you? that's part of the price of being a world city. this was a great showcase and if it makes the folks feel better, despite being 15 minutes away from...
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May 15, 2012
05/12
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there's chicago. there's new york. even traveling at the speed of light, it takes 11 milliseconds for information from one exchange to get to the other. so watch how this trade works. starting on may 3rd, boom, somebody makes a simultaneous trade. chicago, may 3rd, 9:59:11 and 620 milliseconds. somebody buys 1,300 es contracts for $70 million. the same millisecond in new york, 260,000 shares of the spydr etf purchased for $36 million. by doing it at exactly the same millisecond, whoever the trader is that did this has an advantage of 11 milliseconds where he knows what happened in both chicago and new york before either exchange can figure out what happened in the other market. that creates an arbitrage opportunity. that's how you play the speed of light, scott. >> how closely are regulators paying attention? >> they're paying very close attention to this. they won't talk about this particular trade in detail. they do say they're looking for examples of market manipulation. the trick is it's a very subjective standard
there's chicago. there's new york. even traveling at the speed of light, it takes 11 milliseconds for information from one exchange to get to the other. so watch how this trade works. starting on may 3rd, boom, somebody makes a simultaneous trade. chicago, may 3rd, 9:59:11 and 620 milliseconds. somebody buys 1,300 es contracts for $70 million. the same millisecond in new york, 260,000 shares of the spydr etf purchased for $36 million. by doing it at exactly the same millisecond, whoever the...
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May 1, 2012
05/12
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phil lebeau live in chicago. >> a mixed bag for the month of april. generally speaking, the results came in line with estimates. we take a look at the major automakers. a number of them are up and a number of them are down. there were three fewer sales months in april of this year compared to april of last year. three stories stand out. first of all, volkswagen reporting an april sales increase of 31.5%. best april since 1971. not surprising when you look at shares of voem ks wagon that they have been on a tear over the last several months. another story getting a lot of attention, chrysler. reporting the strongest april sales in four years. particularly when you take a look at certain brands like jeep. april sales for jeep up 19%. next let's talk about toyota. did you take a look at shares of toyota? sales did rebound in part because of better supply. remember, they're still catching up because of the tsunami and earthquake from last year. truecar.com, however, estimates toyota's incentives increased 4.4%. the reason that's important, tyler and sue,
phil lebeau live in chicago. >> a mixed bag for the month of april. generally speaking, the results came in line with estimates. we take a look at the major automakers. a number of them are up and a number of them are down. there were three fewer sales months in april of this year compared to april of last year. three stories stand out. first of all, volkswagen reporting an april sales increase of 31.5%. best april since 1971. not surprising when you look at shares of voem ks wagon that...
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May 31, 2012
05/12
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rick santelli in chicago. "squawk on the street" thursday as you may know new york city mayor mike bloomberg planning to prohibit the sale of sugar-sized sodas and other sugary drinks at restaurants and other places in the city. we're asking to you complete the following sentence. mayor bloomberg, i need more than 16 ounces of soda because blank. jim tweets, because it's the only weightlifting i do every day. anything lighter won't give me the same burn in my forearms. michael tweets i can't carry six small cups with my double meet, double bacon, double cheese, double-decker bigger. my dentist and doctor are counting on the income my thirst for soda will generate to stay in business. doctors, too, operating rooms and so forth, the whole point. >> the ripple effect. >> goes to the larger issue of obesity in the country and health care. front and center about a very important issue. >> very interesting to see what the reaction is from the likes of coca-cola, pepsi, fast-food restaurants. they are essentially und
rick santelli in chicago. "squawk on the street" thursday as you may know new york city mayor mike bloomberg planning to prohibit the sale of sugar-sized sodas and other sugary drinks at restaurants and other places in the city. we're asking to you complete the following sentence. mayor bloomberg, i need more than 16 ounces of soda because blank. jim tweets, because it's the only weightlifting i do every day. anything lighter won't give me the same burn in my forearms. michael tweets...
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May 1, 2012
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and rick, i believe you have a guest in chicago with you, don't you? >> yeah. and i'll tell you, it's like we couldn't have created a better segue, in my opinion. we have mayor pro tem of costa mesa, california, james r righeimer, and he grew up in illinois, so that's why he's here. it's his father's 80th birthday. welcome, mayor pro tem. what's pro tem mean? >> i was elected to the council 17 months ago and i'm like appointed by the council to be the number two person in the city. >> so you're like a mayor vp. >> mayor vp, there you go. >> excellent. we were talking -- how did you get elected, first of all? what stance did you have? and you are a republican. >> well, the stance i took for was that we love our police, we love our firemen, they're fantastic, they're great people. we have great employees in our city. but the pension plan is unsustainable. we can't afford to continue to have our city spend the kind of dollars they do for that. in our city, $100 million budget, 72% of our money's going towards pay and benefits. >> wait, wait, wait, 72% of your budg
and rick, i believe you have a guest in chicago with you, don't you? >> yeah. and i'll tell you, it's like we couldn't have created a better segue, in my opinion. we have mayor pro tem of costa mesa, california, james r righeimer, and he grew up in illinois, so that's why he's here. it's his father's 80th birthday. welcome, mayor pro tem. what's pro tem mean? >> i was elected to the council 17 months ago and i'm like appointed by the council to be the number two person in the city....
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May 15, 2012
05/12
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this guy eric whitaker, university of chicago medical school, got $5.9 million, rick lazzio, he's a golfing buddy of the president's and -- and he is the guy who apparently was asked to give reverend wright $150,000 back in 2008 to stop preaching hate. okay? let's just work this through. whitaker, chicago med school, gets almost $6 million from his pal obama and supposedly that was the conduit to stop reverend wright from talking. what do you make of that, rick lazzio? that ain't exactly what i call good business practices. >> it sure smacks of crony capitalism, larry. it looks like the way this administration conducts business is to take care of its friends and family. don't take my word for it. the inspector general who was not a political appointee of the energy department looked at the green energy programs and the loan programs and grant programs, said there was a lack of accountability, a lack of transparency and that many of these programs were steered to friends and family. it is exactly what undermines confidence in government intervention. it's why government needs to stay out to
this guy eric whitaker, university of chicago medical school, got $5.9 million, rick lazzio, he's a golfing buddy of the president's and -- and he is the guy who apparently was asked to give reverend wright $150,000 back in 2008 to stop preaching hate. okay? let's just work this through. whitaker, chicago med school, gets almost $6 million from his pal obama and supposedly that was the conduit to stop reverend wright from talking. what do you make of that, rick lazzio? that ain't exactly what i...
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May 1, 2012
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this month, at a nato summit in chicago, our coalition will set a goal for afghan forces to be in the lead for combat operations across the country next year. international troops will continue to train, advise and assist the afghans and fight alongside them when needed. but we will shift into a support role as afghans step forward. as we do, our troops will be coming home. last year we removed 10,000 u.s. troops from afghanistan. another 23,000 will leave by the end of the summer. after that, reductions will continue at a steady pace with more and more of our troops coming home. and as our coalition agreed, by the end of 2014, the afghans will be fully responsible for the security of their country. second, we are training afghan security forces to get the job done. those forces have searched and will peak at 250,000 this year. the afghans will sustain that level for three years and then reduce the size of their military. and in chicago we will endorse a proposal to support a strong and sustainable long-term afghan force. third, we're building an enduring partnership. the agreement we
this month, at a nato summit in chicago, our coalition will set a goal for afghan forces to be in the lead for combat operations across the country next year. international troops will continue to train, advise and assist the afghans and fight alongside them when needed. but we will shift into a support role as afghans step forward. as we do, our troops will be coming home. last year we removed 10,000 u.s. troops from afghanistan. another 23,000 will leave by the end of the summer. after that,...
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May 16, 2012
05/12
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this time it was outside a hotel near chicago. >> this is not something that happens occasionally. it's pervasive. it's an epidemic. >> rich loebl is vice president of le vian jewelers in new york city. he says that thieves are so brazen, they'll even target jewelers in new york's heavily fortified diamond district. >> they say there are more police officers on the street here than anywhere else in new york, and the reason is, it's not safe to be out here without a police officer. a lot of these guys are retired. look over to the left there. see the guy with the hat on? >> right. >> retired cop, bet you anything there to protect that fedex delivery person. >> turns out he was right. but loebl learned all of this the hard way. in 1999, he was followed leaving a department store in cincinnati. after waving off his police escort, he stopped at this restaurant. when he came out, a van screeched up next to his car. >> how many of them were there? >> five. >> how much did they get? >> they got over $5 million. >> it's a pretty good haul. >> it's a frightening-- it's a frightening haul. >
this time it was outside a hotel near chicago. >> this is not something that happens occasionally. it's pervasive. it's an epidemic. >> rich loebl is vice president of le vian jewelers in new york city. he says that thieves are so brazen, they'll even target jewelers in new york's heavily fortified diamond district. >> they say there are more police officers on the street here than anywhere else in new york, and the reason is, it's not safe to be out here without a police...
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May 21, 2012
05/12
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the city of chicago is almost shut down today unless you're a protester or police officer. the nato summit is underway. and protesters see it as an opportunity to make themselves heard on just about everything. yesterday police and protesters went toe-to-toe clashing and one officer was stabbed in the leg. phil lebeau is live in the city with broads shoulders on day two of the protests. phil, over to you. >> hi, sue. i'm out in front of the boeing headquarters here in chicago where about 200 nato protesters just wrapped up a rally, a demonstration if you will, in front of boeing headquarters. while they were here they laid down on the street in front of the headquarters saying essentially shut down boeing. that's their goal. have boeing not work today. well, about 500 boeing employees have been told to stay home instead of coming here to the headquarters. they are working from home. about two dozen boeing employees here in the headquarters today. and generally speaking this is a very peaceful protest. a far different scene from what we saw yesterday. and you saw some of the
the city of chicago is almost shut down today unless you're a protester or police officer. the nato summit is underway. and protesters see it as an opportunity to make themselves heard on just about everything. yesterday police and protesters went toe-to-toe clashing and one officer was stabbed in the leg. phil lebeau is live in the city with broads shoulders on day two of the protests. phil, over to you. >> hi, sue. i'm out in front of the boeing headquarters here in chicago where about...
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May 4, 2012
05/12
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and phil lebeau is in chicago with more. >> thank you, sharon. the airline stocks are soaring right now. take a look at what we're seeing across the board. almost all of them are moving higher. as we start with united, which really has had the biggest gain today, keep this in mind. for every dollar drop in crude, it's a savings of about $400 million for the major airlines. that's why most of them are moving higher as oil moves lower. with one exception. check out love. shares of southwest airlines. they are aggressive hedgers. when oil corrects or skyrockets one way or the other, that stock usually goes inverse to the rest of the group. that's why as you take a look at what happens with crude oil going lower, so do shares of luv. >> when in doubt, check out luv. thanks. jeff kilburg with kilburg capital has been with us all week as our stock buddy. oil selling off big time today, jeff. what should i do? how would you play it? >> certainly, tyler. we have seen a phenomenal move to the downside. hopefully that will relieve some of the pain at the p
and phil lebeau is in chicago with more. >> thank you, sharon. the airline stocks are soaring right now. take a look at what we're seeing across the board. almost all of them are moving higher. as we start with united, which really has had the biggest gain today, keep this in mind. for every dollar drop in crude, it's a savings of about $400 million for the major airlines. that's why most of them are moving higher as oil moves lower. with one exception. check out love. shares of southwest...
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May 17, 2012
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phil lebeau is live in chicago with details. phil. >> it appears when you look at this data that people are understanding that they're going to be paying to change their fees or to check bags. if you look at the fourth quarter data just out, it will show that the airlines collected lower revenue from baggage fees and reservation chains. overall, baggage fees, $792 million a drop from a year ago. reservation change, $567 million, both drops from the third quarter, as well. when you look at the top five when it comes to baggage fees, delta at the top of the list followed by united, continental, american, usairways and air tran, all lower than a year ago. melissa, the reason we stress that, it's clear that travelers realize they're going to pay to check bags or to change their reservations. more people are carrying on bags, no doubt about that. >> absolutely. phil, thank you very much for breaking that down for us. >>> mean time, facebook's much-anticipated ipo now only a day away. what will industry analysts be watching as faceboo
phil lebeau is live in chicago with details. phil. >> it appears when you look at this data that people are understanding that they're going to be paying to change their fees or to check bags. if you look at the fourth quarter data just out, it will show that the airlines collected lower revenue from baggage fees and reservation chains. overall, baggage fees, $792 million a drop from a year ago. reservation change, $567 million, both drops from the third quarter, as well. when you look at...
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May 10, 2012
05/12
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in chicago it's rick santelli. steve liesman is back at headquarters wishing he were fishing. i'm sorry. i had to give it away there, steve. bertha, a bounce, i guess. we'll see if this will last. we're losing steam in the final hour. >> this morning i was saying on the seventh day we took a rest. the bears took a little bit of a rest it seems today and decided things were oversold. but what's interesting is that the theme today for me has been cognizant dissadence. the third act of the greek drama is going to end with greek -- greece leaving the euro. we've never seen what that would look like. we don't know how you would do that in an organized way and certainly given the chaos that we're seeing, there are no bets that it could be done in an organized way. what's interesting today is that you're seeing the banks after spain goes in and partially nationalizes and here they are rising as well. spain also has to recapitalize those banks and where are they going to get the money for that? the feeling is that europe continues to be europe and the stakes even higher. but at the mo
in chicago it's rick santelli. steve liesman is back at headquarters wishing he were fishing. i'm sorry. i had to give it away there, steve. bertha, a bounce, i guess. we'll see if this will last. we're losing steam in the final hour. >> this morning i was saying on the seventh day we took a rest. the bears took a little bit of a rest it seems today and decided things were oversold. but what's interesting is that the theme today for me has been cognizant dissadence. the third act of the...
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May 7, 2012
05/12
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. >> the cfa institution is having its meeting in chicago today. mary thompson joins us now. >> reporter: thanks, so much. you know, i want to jump right in. you are going to be talking about the new muni market in just a couple of minutes. what exactly is this? >> what makes it new? >> yes. >> well, it started becoming new with the collapse of the bond insurers back in 2007. it's also new because there are more credit problems around than there were since really the mid 1907s. >> reporter: so how do you manage it? >> stay high in quality. but i think you have to go out loner in maturity than an awful lot of people want to. people are desperate for yields, because they have so much in cash because their portfolios have gotten shorter and shorter. >> reporter: talk about going out longer in maturity, because people say the risk to that is the we are going to see interest rates pop up and that's aets going to destroy the underlying value of these funds. >> for one thing you still have long munis yielding significant -- we do have some cushion. that h
. >> the cfa institution is having its meeting in chicago today. mary thompson joins us now. >> reporter: thanks, so much. you know, i want to jump right in. you are going to be talking about the new muni market in just a couple of minutes. what exactly is this? >> what makes it new? >> yes. >> well, it started becoming new with the collapse of the bond insurers back in 2007. it's also new because there are more credit problems around than there were since really...
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May 25, 2012
05/12
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if you go where he introduced this in chicago the other day, he was extremely balanced and talked about what private equity does, and discovers -- >> carly, your last word. >> i'm going to go back to my original point. apparently president obama believes being a law professor and senator qualifies him to be president and being a business person doesn't. he believes only politicians can be president? that's a terrible campaign platform. most people believe we need to go back to more of a citizen government. where people go in and out of public service instead of staying forever, but, again, i just find it breath taking. whether or not it's an attack on business, and it's clearly being viewed that way by members of his own party. what president obama is saying he was qualified and mitt romney isn't. i find that amazing. >> jared, i'm sorry, we have to cut off? >> carly fiorina, thank you. >> john batchelor with us throughout the hour. coming up, nuclear showdown with iran heating up. iran may be closer to weapons grade nuclear capability. coming up, stocks take a late-day dive. investors
if you go where he introduced this in chicago the other day, he was extremely balanced and talked about what private equity does, and discovers -- >> carly, your last word. >> i'm going to go back to my original point. apparently president obama believes being a law professor and senator qualifies him to be president and being a business person doesn't. he believes only politicians can be president? that's a terrible campaign platform. most people believe we need to go back to more...
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May 31, 2012
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you've got like the chicago fed report today was lousy. a lot of these local fed reports have been lousy on manufacturing. okay. but, you've also got a 1.5% ten-year treasury. whatever it finished today, 155, does that not at some point boost the value and the valuations of the stock market. profits relative to incredibly low interest rates. how does that figure into your calculation? >> well, bonds are in a bubble. and right now it's in the hyper phase of the bubble. so, you know, it's how every other bubble forms. how we start with housing, the internet, bonds no different. europe is there, however, that's what keeps me bearish. and i was net short, now i'm basically flat because i think you're due for a bounce. what you have to do is take a look at the asset allocation that will go from bonds to equities at some point. it's not there. >> can't you just -- this is an important point. with super low, record low 1950-style long-term and short-term interest rates, profits up, whatever you want, 5%, 6%, 7%. that ain't bad. does that not make
you've got like the chicago fed report today was lousy. a lot of these local fed reports have been lousy on manufacturing. okay. but, you've also got a 1.5% ten-year treasury. whatever it finished today, 155, does that not at some point boost the value and the valuations of the stock market. profits relative to incredibly low interest rates. how does that figure into your calculation? >> well, bonds are in a bubble. and right now it's in the hyper phase of the bubble. so, you know, it's...
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May 7, 2012
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jack from chicago, what are you watching for tomorrow, my friend? >> with the lack of data i think we will pay atense to french yeel yields and look at spanish yields. and see if what we saw in europe is a policy change. you just heard peter talking about the fed governor speaking. that gives us a key as to whether the shift in direction in europe will play a part in fed policy. >> there are those who feel that there can be no policy change in europe. just no money that -- they won't come up with another solution to this problem over there. do you agree with that? >> i do agree. this in hindsight could be the best thing to ever happen it europe. let's see if greece ends up going out. >> well done, gentlemen. thank you all three for joining us in a minute and a half. or thereabouts. see you tomorrow. >> taking a look at today's business headlines, charge it. that's what -- it was wilma flinstone? >> it was. >> -- used to say. i watched her when i was one or two. that's twice the rise economists expected. keep in mind consumer credit contracted in the
jack from chicago, what are you watching for tomorrow, my friend? >> with the lack of data i think we will pay atense to french yeel yields and look at spanish yields. and see if what we saw in europe is a policy change. you just heard peter talking about the fed governor speaking. that gives us a key as to whether the shift in direction in europe will play a part in fed policy. >> there are those who feel that there can be no policy change in europe. just no money that -- they...
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May 2, 2012
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now, i wish all our customers were in chicago. i mean, everything about the u.s. is easier than doing business here. but this is where the growth is. >> we'll have more with jeff immelt when 60 minutes on cnbc returns. (female announcer) most life insurance companies look at you and just see a policy. at aviva, we do things differently. we're bringing humanity back to life insurance. that's why only aviva rewards you with savings for getting a check-up. it's our wellness for life program, with online access to mayo clinic. see the difference at avivausa.com. the teacher that comes to mind for me is my high school math teacher, dr. gilmore. i mean he could teach. he was there for us, even if we needed him in college. you could call him, you had his phone number. he was just focused on making sure we were gonna be successful. he would never give up on any of us. >> in 2011, jeff immelt, general electric's ceo, agreed to become an advisor to president obama, his so-called jobs czar. but here's the problem: when it comes to creating american jobs, it's hard to compete
now, i wish all our customers were in chicago. i mean, everything about the u.s. is easier than doing business here. but this is where the growth is. >> we'll have more with jeff immelt when 60 minutes on cnbc returns. (female announcer) most life insurance companies look at you and just see a policy. at aviva, we do things differently. we're bringing humanity back to life insurance. that's why only aviva rewards you with savings for getting a check-up. it's our wellness for life program,...
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May 29, 2012
05/12
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phil lebeau is live in chicago. they had a good three-day wo weekend. >> we called around to a number of dealers. here's what we're hearing from them. essentially strong sales and traffic over the weekend. the three-day weekend for them. one virginia auto dealer said, listen, this was the best weekend since cash for clunkers back in 2009. japanese brands in particular very strong. sales surging due to a full supply. remember, a year ago because of the tsunami and the earthquake they didn't have a full supply in showrooms. some toyota dealers are saying sales would double this weekend compared to what they were last year. take a look at japanese auto stocks. since the beginning of the year they've started to move much higher relatively speaking because they've had a full supply in showrooms. look at the auto index as a whole and compare it with the dow. what you're seeing there, tyler, europe. people are still worried about the impact of europe on the automakers and auto industry. that's why the auto index is lower r
phil lebeau is live in chicago. they had a good three-day wo weekend. >> we called around to a number of dealers. here's what we're hearing from them. essentially strong sales and traffic over the weekend. the three-day weekend for them. one virginia auto dealer said, listen, this was the best weekend since cash for clunkers back in 2009. japanese brands in particular very strong. sales surging due to a full supply. remember, a year ago because of the tsunami and the earthquake they...
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May 2, 2012
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now, i wish all our customers were in chicago. i mean, everything about the u.s. is easier than doing business here. but this is where the growth is. >> we'll have more with jeff immelt when 60 minutes on cnbc returns. dad, why are you getting that? is there a prize in there? oh, there's a prize, all right. [ male announcer ] inside every box of cheerios are those great-tasting little o's made from carefully selected oats that can help lower cholesterol. is it a superhero? kinda. ♪ put me at 5 timesd out my greater risk of a stroke, my first thoughts were about my wife, and my family. i have the most common type of atrial fibrillation, or afib. it's not caused by a heart valve problem. i was taking warfarin, but my doctor put me on axa to reduce my risk of stroke. in a clinical trial, pradaxa® (dabigatran etexilate mesylate) reduced stroke risk 35% better than warfarin. and unlike warfarin, with pradaxa, there's no need for regular blood tests. that's really important to me. pradaxa can cause serious, sometimes fatal, bleeding. don't take pradaxa if you have ab
now, i wish all our customers were in chicago. i mean, everything about the u.s. is easier than doing business here. but this is where the growth is. >> we'll have more with jeff immelt when 60 minutes on cnbc returns. dad, why are you getting that? is there a prize in there? oh, there's a prize, all right. [ male announcer ] inside every box of cheerios are those great-tasting little o's made from carefully selected oats that can help lower cholesterol. is it a superhero? kinda. ♪ put...
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May 3, 2012
05/12
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rick santelli's at the cme group in chicago this morning. good morning, rick. >> good morning, carl. today at 8:30 eastern, we had a much better-than-expected drop in initial claims. and that is good news. whether that leads to a timely creation of jobs is yet to be seen. today's number isn't going to directly impact tomorrow's number. but at 8:30 eastern, you also had mr. draghi on the wire. it gets very difficult to distinguish exactly what the market was paying the most attention to. an intraday of ten-year here and in europe, they're highly correlated. they jumped up on rates and gave a little bit back. many believe the jump-up in rates was due to the better-than-expected claims. as you look at an intraday of the dollar index or in this case the euro currency, you can see that probably draghi has a bigger effect on moving the euro around because of his somewhat laissez-faire approach to inflation, probably because he's worried about different types of projects to try to help the company, like more ltros. back to you. >> thanks very much,
rick santelli's at the cme group in chicago this morning. good morning, rick. >> good morning, carl. today at 8:30 eastern, we had a much better-than-expected drop in initial claims. and that is good news. whether that leads to a timely creation of jobs is yet to be seen. today's number isn't going to directly impact tomorrow's number. but at 8:30 eastern, you also had mr. draghi on the wire. it gets very difficult to distinguish exactly what the market was paying the most attention to....
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May 16, 2012
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rick santelli is in chicago. rick? >> well, industrial production rose much more than expected, up 1.1%. double expectations. the fly in the ointment, last month originally released an unchanged. it is now down .6. if you average the two year, that's where you need to be. utilization rates jumping to 79.2. even though there was also a downward revision last month. now 79.2, boy that, is the highest utilization rate since april of '08. so we had a housing number that was very, very close to the best levels since '08. this is worth paying attention to. carl, back to you. >> all right. industrial production. a number that bernanke, we know, watches very closely, jim. >> look, we are -- there are three economies going on right now. there is the european economy which is in free fall. there's the chinese economy which is stalled and then there is the u.s. economy which is really getting pretty good. by the way, there is a fourth economy which is facebook. that is a very real issue, facebook, apple. are they what's going on
rick santelli is in chicago. rick? >> well, industrial production rose much more than expected, up 1.1%. double expectations. the fly in the ointment, last month originally released an unchanged. it is now down .6. if you average the two year, that's where you need to be. utilization rates jumping to 79.2. even though there was also a downward revision last month. now 79.2, boy that, is the highest utilization rate since april of '08. so we had a housing number that was very, very close...
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May 23, 2012
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phil lebeau is live in chicago. and, phil, i'm sorry, but on some of these routes, they can kiss that on-time performance good-bye. it takes forever to get kids on the plane. >> those of us with kids and have flown, we know this will be potentially problem for those flying. it's a policy implemented over the last couple weeks quietly. united has essentially said it will end the policy of a blanket early boarding for family with kids. they've stopped that so they can reduce the number of boarding groups. we talked with united today and a spokesperson for the company said having families board early ended up being more confusing, not less if families board with their group, it is simpler. we should point out it's not just united ending this era. a number of airlines are looking at or have already restricted boarding times as they charge for certain restricted. some have access to overhead bins. as you take a look at shares of united, it's getting a lot of attention for this. bottom line, tyler, this is all about space
phil lebeau is live in chicago. and, phil, i'm sorry, but on some of these routes, they can kiss that on-time performance good-bye. it takes forever to get kids on the plane. >> those of us with kids and have flown, we know this will be potentially problem for those flying. it's a policy implemented over the last couple weeks quietly. united has essentially said it will end the policy of a blanket early boarding for family with kids. they've stopped that so they can reduce the number of...
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May 11, 2012
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yesterday martin greenberg gave a great speech at the chicago fed speaking about the fdic's capability to now resolve a systemically important financial institution. that's way more important than this discussion as it relates to jpmorgan and whether they lost a billion, two billion or four billion in this quarter. it's not a systemic risk. >> can i jump in for that? here's where i disagree with you. a systemic risk will strike all the major banks simultaneously. when there's a downdraft, it will overwhelm the capacity of the fdic or any one agency to bail them out or to take the measures that it thinks are in isolation it might be able to handle. that's why i do not accept the premise that they have these living wills and -- >> governor, that's wlhy you ned a central bank system. we need a lender of last resort for those types of issues when they occur. and when that occur, that's the only way we're going to get out of them. >> i agree with you on that. >> we're not going to get away from a regulated banking system or large financial institutions. we're just not. we do not want to go
yesterday martin greenberg gave a great speech at the chicago fed speaking about the fdic's capability to now resolve a systemically important financial institution. that's way more important than this discussion as it relates to jpmorgan and whether they lost a billion, two billion or four billion in this quarter. it's not a systemic risk. >> can i jump in for that? here's where i disagree with you. a systemic risk will strike all the major banks simultaneously. when there's a downdraft,...
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May 15, 2012
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some santelli solutions for us from chicago. what do you think, ricky? >> i think while the government is punting, these derivatives are punishing. it's easy. you know, we passed these reforms, dodd/frank, 22 months ago. we haven't even settled on a decision for what swaps means or what the term "hedge" means. to see timothy geithner, the poster for ineffective, have the nerve to castigate jpmorgan for trading in otc, this caused much of the credit crisis. my solution? you don't need 2,300 pages of overbearing reform. you just need to address otc, need to strengthen mark to market. if something is marked to model, you charge more set aside capital. it's all about capital and simplicity. you know, when we talk about the spirit of a rule and then you read the 2,300 pages of dodd/frank, it's a bunch of loophol loopholes. the spirit of the law, you don't need every case outlined in legalese. leave it a bit gray so banks know they're in the gray and let ongoing legislation or ongoing forensics of every individual case tighten up that cloudiness. and last but
some santelli solutions for us from chicago. what do you think, ricky? >> i think while the government is punting, these derivatives are punishing. it's easy. you know, we passed these reforms, dodd/frank, 22 months ago. we haven't even settled on a decision for what swaps means or what the term "hedge" means. to see timothy geithner, the poster for ineffective, have the nerve to castigate jpmorgan for trading in otc, this caused much of the credit crisis. my solution? you don't...
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May 18, 2012
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i'm in for melissa and these are the traders in times square and chicago and we will be all over the facebook in a second, but while you were watching the biggest technology ipo of all time, a curious thing happened to the overall market. it sanction. it is now posted the worth week of the year. is it a danger zone to stay away from or is it a huge buying opportunity? let's get in the money and find out and dan nathan, what has you the most scareded or opportunistic? >> what would make me most nervous if i was a retail investor is the fact that the sell off has been very orderly in the last couple of weeks. we have not seen panicked situations. it leads he to believe the smart money and the hedge funs are well-hedged we are waiting to see what the dumber money is doing. the mutual funds are doing. they are buying and will be the ones selling on the first down 2.5, 3% day we v. >> most of the information i got suggested the market was oversold into today and looked right for a balance. why did we not get that? >> you have $100 billion stock and everybody has their eyes on that. a $100
i'm in for melissa and these are the traders in times square and chicago and we will be all over the facebook in a second, but while you were watching the biggest technology ipo of all time, a curious thing happened to the overall market. it sanction. it is now posted the worth week of the year. is it a danger zone to stay away from or is it a huge buying opportunity? let's get in the money and find out and dan nathan, what has you the most scareded or opportunistic? >> what would make me...
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May 2, 2012
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i get tremendous support. >> bethany mcclain joins us from chicago. welcome, bethany. he says he's staying put. and your article really doesn't take a stance as to whether he's in or he's out. but your article does suggest strongly that this is a company that can feel the winds of change blowing. getting ready for one. what do you say? >> i don't think there's any question that blankfein wants to stay. he's a proud man. and he wants to go out having left goldman a stronger place than when he came in. and if he went out now, i think it would be very debatable whether that's the case. but the problem for goldman sachs is that reputational risk is as real as financial risk. and the continued public hammering at the firm's reputation is going to start to hurt its financing at some point. and the board may find themselves without a choice. and it's interesting because goldman's always been a place where the political maneuvering is bitter and fierce and, you know, like a gladiator war, somebody described it to me. it goes on in private and now it's taking place in public. >
i get tremendous support. >> bethany mcclain joins us from chicago. welcome, bethany. he says he's staying put. and your article really doesn't take a stance as to whether he's in or he's out. but your article does suggest strongly that this is a company that can feel the winds of change blowing. getting ready for one. what do you say? >> i don't think there's any question that blankfein wants to stay. he's a proud man. and he wants to go out having left goldman a stronger place...
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May 4, 2012
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thank you, rick santelli, in chicago. >>> a quick check of apple. the momentum stock is having a severe effect on the overall composite falling below the 570 number. groupon went public at 20, and back to 9.94 which someone called on twitter a sick move. it's been a difficult few months for grpn. >>> as we go to break, one more look at some of the winners and losers ahead of what will be an eventful weekend for europe. home protector plus, from liberty mutual insurance, where the costs to both repair your home and replace your possessions are covered. and we don't just cut a check for the depreciated value -- we can actually replace your stuff with an exact or near match. plus, if your home is unfit to live in after an incident, we pay for you to stay somewhere else while it's being repaired. home protector plus, from liberty mutual insurance. because you never know what lies around the corner. to get a free quote, call... visit a local office, or go to libertymutual.com today. liberty mutual insurance. responsibility. what's your policy? on decembe
thank you, rick santelli, in chicago. >>> a quick check of apple. the momentum stock is having a severe effect on the overall composite falling below the 570 number. groupon went public at 20, and back to 9.94 which someone called on twitter a sick move. it's been a difficult few months for grpn. >>> as we go to break, one more look at some of the winners and losers ahead of what will be an eventful weekend for europe. home protector plus, from liberty mutual insurance, where...
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May 29, 2012
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and he's professor of economics at the university of chicago, booth school of business. as always, randy, welcome. look, we know that the demand for dollars among banks, depositors in europe, businessmen and women, corporations there is a humongous demand for dollars right now because they don't trust their own situation. question, will the federal reserve put more dollars into europe? will they conduct more dollar swaps, randy? >> well, they already have a big facility open with the european central bank. so they actually don't have to do any more in order to allow more dollars to get there. the european central bank just has to ask for it, and it will come forward. and my guess is they'll be doing a lot of asking. >> is there a limit to that swap? >> i think basically they can get as much as they want. and fortunately from the fed's perspective their risk is not with the individual borrowers in europe. it's just with the european central bank. that pretty much eliminates the risk -- any credit risk the fed might have. >> let me just kind of walk through this. suppose w
and he's professor of economics at the university of chicago, booth school of business. as always, randy, welcome. look, we know that the demand for dollars among banks, depositors in europe, businessmen and women, corporations there is a humongous demand for dollars right now because they don't trust their own situation. question, will the federal reserve put more dollars into europe? will they conduct more dollar swaps, randy? >> well, they already have a big facility open with the...
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May 10, 2012
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let's get to rick santelli in chicago. >> thanks, simon. we just auctioned the long bond. and it was the best of the three auctions by a wide margin. the yield 3.09. it was trading around 3.11 in the went in issue market. internals, $2.73 chasing every dollar's worth of securities available. that was the bid-to-cover. 10 auction average of 2.66, 33.8 indirects, 3% better than the 10-auction average. a little light on the directs at 15.84. 18%. that means dealers took about 50.8%. this is an a minus without a doubt the best auction of the three. sue, it's all yours. >> thanks a million, rick. to brian shactman and a market flash. >> it wouldn't be a good "power lunch" without another reference to green mountain coffee. take a look at the intraday chart of gmcr. tyler's interview with starbucks ceo was asked about their new high pressure machine that's coming out and howard schultz said it will not compete with the k-cups. you saw a spike in green mountain. it went positive. then investors seemed to say, well, maybe not. back to you. >> that's putting it mildly. thanks very
let's get to rick santelli in chicago. >> thanks, simon. we just auctioned the long bond. and it was the best of the three auctions by a wide margin. the yield 3.09. it was trading around 3.11 in the went in issue market. internals, $2.73 chasing every dollar's worth of securities available. that was the bid-to-cover. 10 auction average of 2.66, 33.8 indirects, 3% better than the 10-auction average. a little light on the directs at 15.84. 18%. that means dealers took about 50.8%. this is...
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May 27, 2012
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a city like chicago, average hotel rate is $119 right now. that's a pretty great rate. there are great deals to be had. something to keep keep in mind is look for hotels offering a fourth night free. a hotel can retain their price, they establish loyalty, they don't have to reduce their room rate, you can get great deals. >> let me ask you about the euro. dropping to an almost two-year low this week. can an american traveler today capitalize on that? how do you make the most of your money if you want to go to europe? >> great point. "travel and leisure" readers love europe. choose an unexpected destination. such as iceland. get great rates to iceland. it's beautiful in the summertime. plenty of daylight. there's great hiking, great horseback riding, it's great for kids. choose a destination like portugal which has an old world european feel but has lower rates. >> great advice. thanks so much. have a fantastic rest of the weekend. sarah spagnolo joining us. >>> we'll look at the news that will impact your money. and the australian who makes a million every half hour. wh
a city like chicago, average hotel rate is $119 right now. that's a pretty great rate. there are great deals to be had. something to keep keep in mind is look for hotels offering a fourth night free. a hotel can retain their price, they establish loyalty, they don't have to reduce their room rate, you can get great deals. >> let me ask you about the euro. dropping to an almost two-year low this week. can an american traveler today capitalize on that? how do you make the most of your money...
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May 25, 2012
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phil lebeau is live in chicago with more on that. good morning. >> good morning. >> the next couple of years are critical, starting with this model that will roll into showrooms. it's the xts. it's a mid-size -- actually, it's slightly larger. they need this. this is the first all new caddy that we are seeing rolling into showrooms in three years and the focus will be on the styling, not on the mileage. by the way, 17 in the city and 27 on the highway. the cadillac buyer, when they go in, because they are going to focus on technology, every buyer will get an ipad. they say we know that we are under the gun and we will be boosting this model. >> i'm absolutely sure that we'll get to number four and knocking on the door of number 3 as we close out 2012. 2013 and going forward, from the time we ended 2011, we need to double our sales within the next couple of years. you know what, it's my job to get that done. >> you heard don butler say that they are going to get back to number four. here are the luxury sales leaders, starting with mer
phil lebeau is live in chicago with more on that. good morning. >> good morning. >> the next couple of years are critical, starting with this model that will roll into showrooms. it's the xts. it's a mid-size -- actually, it's slightly larger. they need this. this is the first all new caddy that we are seeing rolling into showrooms in three years and the focus will be on the styling, not on the mileage. by the way, 17 in the city and 27 on the highway. the cadillac buyer, when they...
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May 10, 2012
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rick santelli in chicago. a few minutes left in europe's trading day. we'll get the close in three minutes. in your fight against bugs. ortho home defense max. with a new continuous spray wand. and a fast acting formula. so you can kill bugs inside, and keep bugs out. guaranteed. ortho home defense max. >>> the mead lines sound good. spanish market up 3%, most in several months, but you've got to take into effect what they've gone the last weeks and months. >> over the last three years, they've lost half their value, but strong money in privilegial europe as we count you down to the close this thursday evening. >> markets are closing now. >> just look at the big gains you've got some spain. look at greece down at the bottom. a 4% move higher, you can see. it's actually bouncing back from some real heavy, hard selling. let's take a look at how we've built on that momentum through the session. here you've got athens, spain, and italy. those peripheral countries making gains through the session. there was a rumor, i'm told, it is reported by the wires in a
rick santelli in chicago. a few minutes left in europe's trading day. we'll get the close in three minutes. in your fight against bugs. ortho home defense max. with a new continuous spray wand. and a fast acting formula. so you can kill bugs inside, and keep bugs out. guaranteed. ortho home defense max. >>> the mead lines sound good. spanish market up 3%, most in several months, but you've got to take into effect what they've gone the last weeks and months. >> over the last three...
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May 8, 2012
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well, rahm emanuel, the mayor of chicago, asking the minnesota a.g. to deal directly with the company. it's about aggressive billing and debt collection. and guess what? the company is based in chicago, and it's become a bit of a political football as well. the stock, though, popping. 4 1/4%. but still down big in the last month. back to you. >> all right, brian. thanks very much. well, just ahead on "street signs," the fallout for lockheed martin after a frightening flaw calls into question the safety of its star jet. >> plus, dances with cat. how this man and this machine could choreograph an economic recovery. "street signs" is back after the break. tdd# 1-800-345-2550 i'm constantly working my screens. tdd# 1-800-345-2550 checking the charts. tdd# 1-800-345-2550 looking for support, tdd# 1-800-345-2550 resistance, breakouts, tdd# 1-800-345-2550 a few other tricks that i'll keep to myself. tdd# 1-800-345-2550 that's how i trade. tdd# 1-800-345-2550 and i do it all with charles schwab, tdd# 1-800-345-2550 because their streetsmart edge platform tdd#
well, rahm emanuel, the mayor of chicago, asking the minnesota a.g. to deal directly with the company. it's about aggressive billing and debt collection. and guess what? the company is based in chicago, and it's become a bit of a political football as well. the stock, though, popping. 4 1/4%. but still down big in the last month. back to you. >> all right, brian. thanks very much. well, just ahead on "street signs," the fallout for lockheed martin after a frightening flaw calls...
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May 2, 2012
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greetings from the windy city of chicago. people here sure are friendly but some have had a hard time understanding my accent. so to make sure people get every word of the geico savings message i've been practicing how to talk like a true chicagoan. switching to geico could save you hundreds of dollars on car insurance... da bears. haha... you people sure do talk funny. geico®. fifteen minutes could save you fifteen percent or more on car insurance. >>> multi-channel retailer hsn's strong performance continuing in the first quarter due to some solid online sales. hsn reporting eps of 44 cents, topping estimates of 37 cents a share. net income rose to $26.2 million, an increase of 29% from the year earlier quarter. joining us this morning for an exclusive interview, mindy grossman, the ceo of hsn. mindy, good to have you back. good morning to you. >> hi, carl. how are you? >> i'm good. looking through the quarter, seems like one of the main things i should ask you about is the growth in mobile which is what everybody wants to
greetings from the windy city of chicago. people here sure are friendly but some have had a hard time understanding my accent. so to make sure people get every word of the geico savings message i've been practicing how to talk like a true chicagoan. switching to geico could save you hundreds of dollars on car insurance... da bears. haha... you people sure do talk funny. geico®. fifteen minutes could save you fifteen percent or more on car insurance. >>> multi-channel retailer hsn's...
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May 15, 2012
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rick santelli in chicago. >>> time for "squawk on the beat." while investors may be fawning over a chance to get a piece of the facebook ipo, public is actually more skeptical, according to a new poll. kayla tausche is at hq exploring trust issues with facebook. interesting stuff, kayla. >> it is interesting, carl. the results came out last night, and of facebook's 900 million users, could it really be that almost 600 million of them don't trust the site? well, we asked them, do you trust the company to keep your personal information private? and the results, in a nutshell, no, i don't. 60% said they had no or little trust in the company when it came to personal information. only 13% saying they trust the site completely or a lot. so, it's probably not much of a surprise that when asked about using the site when real money is concerned, as not really virtual funds, people were equally distrustful. we asked, how safe would you feel buying goods or services through facebook? and only 8% said they felt extremely or very safe doing that. 54% saying
rick santelli in chicago. >>> time for "squawk on the beat." while investors may be fawning over a chance to get a piece of the facebook ipo, public is actually more skeptical, according to a new poll. kayla tausche is at hq exploring trust issues with facebook. interesting stuff, kayla. >> it is interesting, carl. the results came out last night, and of facebook's 900 million users, could it really be that almost 600 million of them don't trust the site? well, we asked...
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May 25, 2012
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the price of orange juice down, todd horowitz joining us from chicago. do you expect that wheat will continue to be the only commodity here where we see price hikes? >> wheat has been under tremendous pressure, so the big rally we just had was pretty much expected. we've been under duress for so long, eventually you get a dead cat bounce. so really what's happening is wheat is going back to its normal plateau which wleet is normal wheat is normally higher priced. so i think we're back into that level and we had a big bounce. will it continue higher, no, we've probably reached the upper end of our new level. >> let's and you can about the trading day ahead. we have a shorter day in bond markets. we have the consumer confidence data out at 10:00. is that what you're going to focus on? >> i'm going to focus on that we're at the level, we're at the top end of our range again. we're at that 1320 to 1330 s&p. we're around 12,500 dow. i think we'll have a softer period. i think we're working our way lower in the overall markets and i think that history will con
the price of orange juice down, todd horowitz joining us from chicago. do you expect that wheat will continue to be the only commodity here where we see price hikes? >> wheat has been under tremendous pressure, so the big rally we just had was pretty much expected. we've been under duress for so long, eventually you get a dead cat bounce. so really what's happening is wheat is going back to its normal plateau which wleet is normal wheat is normally higher priced. so i think we're back...
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May 11, 2012
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but let's get to the trade pits of chicago. bob joining us from the cme. even in it chicago, even though you guys are -- no more pork bellies which is disappointing to me, but i'm sure that financials are on everybody's radar with this, right, bob? >> yeah, how would jpmorgan affect pork bellies. >> a good point. what happened? any way, so which instruments are -- it's more of a -- it's just interesting. it's not really going to affect anything you're doing today, is it? >> well, actually is. i was doing some analysis late yesterday because ever since the big move in january, the big move up in the equities, i changed to kind of a buy the dip mode from just an outride long mode in the s&p. and i was looking for places to buy dips and i was looking at the financials. i was trying fto see when the financials would bounce because they've been sideways. and as soon as i hear the news, my reaction is really, we need this now on to which everything else? but having said that, becky is talking a lot of sense in the background as i was listening to the last segmen
but let's get to the trade pits of chicago. bob joining us from the cme. even in it chicago, even though you guys are -- no more pork bellies which is disappointing to me, but i'm sure that financials are on everybody's radar with this, right, bob? >> yeah, how would jpmorgan affect pork bellies. >> a good point. what happened? any way, so which instruments are -- it's more of a -- it's just interesting. it's not really going to affect anything you're doing today, is it? >>...
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May 9, 2012
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andy bush joins us from chicago. andy, this looks like a moment in time here? >> yeah, exactly, simon. i mean, the euro keeps trns lower. we have hat a dittyle by of a dely rehacks arf the weekend. >> but one of the mysteries has been why the euro hant broken lower before. particularly on this side of the atlantic with so many shorts to a man and woman hiding up against it. why is it different this time? >> so it's glanding down to a point where we see no hope for the future. the elections in greece are totally unsettling. also interest rates. so the nervousness is getting out there. there just isn't a path forward for growth and it's getting worse. >> isn't this a prime kprampl when somebody big and important says something that calms the markets? sk >> you could, simon. we've seen bounces before. i look at the momentum of the market. and i think that's important. i think we'll continue to grind down here. >> okay. so what's the trade. following up on what you said, i'm looking for a bounce. i hope somebody says something positive to sell it. i want to leave t
andy bush joins us from chicago. andy, this looks like a moment in time here? >> yeah, exactly, simon. i mean, the euro keeps trns lower. we have hat a dittyle by of a dely rehacks arf the weekend. >> but one of the mysteries has been why the euro hant broken lower before. particularly on this side of the atlantic with so many shorts to a man and woman hiding up against it. why is it different this time? >> so it's glanding down to a point where we see no hope for the future....
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May 3, 2012
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some of the stores in chicago could be a little strong to severe. minneapolis, cloud cover it for you, as well. we're also looking at that threat for a few scattered shower and storms producing severe weather. your travel forecast, heading home, nashville, tennessee to mobile, alabama, scattered showers and thunderstorms. dallas, texas to oklahoma city, sunshine along interstate 35. in the meantime, chicago, illinois toward madison, wisconsin along interstate 94, your travel plans here, a few strong thunderstorms. some could produce damaging winds and large hail. and around the indianapolis area toward columbus, ohio along interstate 70, we're looking at a next chur of smixture of sun . back to you. >>> the fourth round of the u.s. china strategic and economic dialogue being held in beijing today. emily chan joins us there beijing with more. >> thanks a lot, michelle. and of course this morning henks kicked off here in beijing. it's about 6:20 p.m. local time. fourth have a enl tooic and economic dialogue. it this is a forum created to manage bilate
some of the stores in chicago could be a little strong to severe. minneapolis, cloud cover it for you, as well. we're also looking at that threat for a few scattered shower and storms producing severe weather. your travel forecast, heading home, nashville, tennessee to mobile, alabama, scattered showers and thunderstorms. dallas, texas to oklahoma city, sunshine along interstate 35. in the meantime, chicago, illinois toward madison, wisconsin along interstate 94, your travel plans here, a few...
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May 31, 2012
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wreck santelli standing by in chicago. we have john sylvia joining us from charlotte, north carolina and the professor, steve liesman in the studio. rick? >> survey says initial jobless claims moved up from 373 to 383. new math up 10,000. originally released at 370. now let's look at the first -- second look at first quarter gdp, 1.9, matches expectations. it just doesn't match the expectations that we all had a couple quarters ago. the number moving from 2.2 originally down to 1.9, the consumption figures 2.7. that's a 0.2 drop, a little surprise there. the price index moved up from 1.5 to 1.7. that's also a bit of a surprise. personal expenditure consumption quarter over quarter up 2.1, matches expectations. challenger layoffs moved up rather dramatically. adp employment change, snooze, we need more more jobs. we're still holding on to a positive in equities on the last trading day of the month and we just broke under 160 in a ten-year note. 159-year-old and nothing expresses the lack luster performance both of the econo
wreck santelli standing by in chicago. we have john sylvia joining us from charlotte, north carolina and the professor, steve liesman in the studio. rick? >> survey says initial jobless claims moved up from 373 to 383. new math up 10,000. originally released at 370. now let's look at the first -- second look at first quarter gdp, 1.9, matches expectations. it just doesn't match the expectations that we all had a couple quarters ago. the number moving from 2.2 originally down to 1.9, the...
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May 2, 2012
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so chicago, new york, washington, d.c., nod rat airport delays expected. take look at the showers and storms through sexes of wisconsin. also miner into northern illinois and iowa this morning. thunderstorm activity there. toward sections of the northeast, we have some light precipitation. right now moving through eastern sections of pennsylvania, washington, d.c., baltimore, a few scattered showers and thunderstorms around the delmarva peninsula this morning. the upper ohio river valley, we're tracking clouds as well. new york city, we're kweechlt off to the west, a little bit of light rain trying to move toward the east. the overall forecast for today, showers and thunderstorms around the region. low 80s in pittsburgh as well as washington, d.c. we'll find mostly cloudy skies. temperatures cooler for you in new york city. only tops out in the mid-50s for today and low 50s aunld the boston area. toward the midwest, warm temperatures. in 280s around chicago. 85 today. 90 toward louisville as well as st. louis. in the southeast we're looking at high pressur
so chicago, new york, washington, d.c., nod rat airport delays expected. take look at the showers and storms through sexes of wisconsin. also miner into northern illinois and iowa this morning. thunderstorm activity there. toward sections of the northeast, we have some light precipitation. right now moving through eastern sections of pennsylvania, washington, d.c., baltimore, a few scattered showers and thunderstorms around the delmarva peninsula this morning. the upper ohio river valley, we're...
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May 30, 2012
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visiting from chicago this morning, michael gur ka. we've already talked about the pronouncer on the bur knack. it's chicago thing but while you're in in mg or the east coast you're going to go with the bernanke. it's hard for you to say it, right? >> i adapt, joe. >> you adapt. okay. michael, o1.5 we just heard possible on the ten-year. how much do we look at that and say, wow, that is the global situation. that's where supply and demand has taken yields and how much do we say this is fed orchestrated? i would say 90% of it. clearly. >> it's really real. >> yeah, everything is getting funded that way. the way some of the metals are reacting, dollar based versus euro or anything, everyone's going to clam for more that. >> if it because in gold. you would see that. >> for a long time we heard they were orchestrating housing rates. double mandate for the jobs market. you ire saying with out without the fed the ten-year would be where it is i think it's going to happen. there are so many people on the street right now. there are tons of f
visiting from chicago this morning, michael gur ka. we've already talked about the pronouncer on the bur knack. it's chicago thing but while you're in in mg or the east coast you're going to go with the bernanke. it's hard for you to say it, right? >> i adapt, joe. >> you adapt. okay. michael, o1.5 we just heard possible on the ten-year. how much do we look at that and say, wow, that is the global situation. that's where supply and demand has taken yields and how much do we say this...
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May 1, 2012
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meantime several fed officials speaking today, including chicago fed president charles evans. and atlanta fed president dennis lockhart, both taking part in a panel moderated by steve liesman in california. also pfizer reporting results before the opening bell as do archer dan yae er daer daniels. after the close, cbs. >> and some u.s. energy related and biotech companies are apparently among the most heavily shorted ahead of their publication of results from this week. joining us for more, will, good to see you. you don't necessarily analyze the results but ship holdings reporting earnings, what does that tell us about how many people they're short something. >> a staggering inin ining 40% borrowed. it's expensive to be shorting that much. there are two themes there. commodity group slowing down. one due for a major fall. it could get taken over, is there any consolidation. short selling a also fraught for danger. but you at the moment -- >> at risk of a huge squeeze. >> if there was spectacular results tonight, you might see momentum to the upward side, buts's a high convict
meantime several fed officials speaking today, including chicago fed president charles evans. and atlanta fed president dennis lockhart, both taking part in a panel moderated by steve liesman in california. also pfizer reporting results before the opening bell as do archer dan yae er daer daniels. after the close, cbs. >> and some u.s. energy related and biotech companies are apparently among the most heavily shorted ahead of their publication of results from this week. joining us for...
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May 30, 2012
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andy bush, here's the capital trade in chicago. andy, we certainly had a lot of volatility this morning with these head loolines and direct access. and then there's a realization that the ecb and germany would have to have a say in this and people were scrambling a little bit when it comes to the euro u.s. dollar trade. >> that's right. there isn't a quick fix for this. the very, very important decision that has to be made on fiscal integration, that's highly questionable at this point. that's why you see the euro continuing to make new lows and the dollar strengthen. i think that's a huge benefit for the country. >> so how, in terms of the euro u.s. dollar trade, what are the other levels that we're looking to test? 121? lower? >> yeah, definitely. i think, you know, like i said last week when i was on, i said just dump it. i think we were on 125.70 then. that's worked out really well. don't try to get too sophisticated or fancy. just pick a level and sell it. the reason why i'm saying that, we're in a very strong down trend. all
andy bush, here's the capital trade in chicago. andy, we certainly had a lot of volatility this morning with these head loolines and direct access. and then there's a realization that the ecb and germany would have to have a say in this and people were scrambling a little bit when it comes to the euro u.s. dollar trade. >> that's right. there isn't a quick fix for this. the very, very important decision that has to be made on fiscal integration, that's highly questionable at this point....
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May 1, 2012
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chicago exchange. it is moving to defend it turf against the fwoid nearly round the clock transactions. and australia central bank cutting its main cash rate by aggressive half a point today. policymakers say inflation would likely be lower than expected for the next two years. comments leave the door open for further easing if necessary. china's pmi rising to a third month high in in april. they stole it from us obviously. the slightly short like everything, slightly short of expectations. the number signals that the economy has found a footing and may be recovering, but smaller factories are still struggling. kevin ferry chief market strategist joins us from the cme. i've gotten some correspondence from you in relation days. >> it's been fun. >> i love the krugman piece. the fed finally needs to get off its ass and do something because they haven't done anything to help unemployment. so -- and then i also leak when we had bart chilton on who wants to make sure you can only have a certain amount of po
chicago exchange. it is moving to defend it turf against the fwoid nearly round the clock transactions. and australia central bank cutting its main cash rate by aggressive half a point today. policymakers say inflation would likely be lower than expected for the next two years. comments leave the door open for further easing if necessary. china's pmi rising to a third month high in in april. they stole it from us obviously. the slightly short like everything, slightly short of expectations. the...
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May 11, 2012
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rich is at the cme group in chicago. go ahead, rick. >> well, thanks, jim. obviously, we saw the ppi number this morning and the energy issue on the top line really was looked passed a bit. but it's still significant being down two tenths. but, really, the news of the day continues to be jp morgan. now, this is the new guy. the old guy would probably be close to under 180. but that's the way the constant rolling process works. now, let's switch gears a bit. you know, canada, howl banks have you heard having problem ins canada or having mortgage issues or leverage issues or the bank of canada needing to do qe. if we're on family feud, the answer would be beep, beep, beep, none of the above. they created 58,000 plus jobs we learned today. and last month, 82,000 plus jobs. cumulatively. we're talking 140,000 jobs. well, you might be saying big deal, 140,000 isn't that much. but can that's economy is smooch smaller. much smaller. that gives you roughty the same common denominator as the u.s. do the malt. i'm envious. but we why do we have to be envious of canada
rich is at the cme group in chicago. go ahead, rick. >> well, thanks, jim. obviously, we saw the ppi number this morning and the energy issue on the top line really was looked passed a bit. but it's still significant being down two tenths. but, really, the news of the day continues to be jp morgan. now, this is the new guy. the old guy would probably be close to under 180. but that's the way the constant rolling process works. now, let's switch gears a bit. you know, canada, howl banks...
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May 8, 2012
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rick over at the group in chicago. good morning, rick. >> well, i get to cover the only couple of adults in the room in the form of the fixed income markets. you can see that the trajectory has been pretty i orderly. and here we see ate the five-year with six basis points closing at 70 and 13 basis points away. 30 year bond, about 33 basis points away from its low-yield close, which is around 270, 271. if you look at the boom, it's hovering around 1.56. needs are pretty easy to disearn. in the end, it's about the fnser and the equation. talk abatout os terrausterity au want. >> thank you very much. let's check out the latest moves in gold and oil. >> reporter: hey, melisa, we're looking at the biggest decline of gold in a month's time. something very strange has happened. we've broken outed of some key trading ranges. gold had been stuck in a 1625 to 1675 range. it happened right at the open. a lot of sell stops were triggered. keep in mafeniind what's happenn greece, what's happening in europe. that is certainly impac
rick over at the group in chicago. good morning, rick. >> well, i get to cover the only couple of adults in the room in the form of the fixed income markets. you can see that the trajectory has been pretty i orderly. and here we see ate the five-year with six basis points closing at 70 and 13 basis points away. 30 year bond, about 33 basis points away from its low-yield close, which is around 270, 271. if you look at the boom, it's hovering around 1.56. needs are pretty easy to disearn....